BANKRUPTCY.

New Zealand Herald, Volume XXX, Issue 9335, 19 October 1893, Page 3

BANKRUPTCY.

MEETING OF CREDITORS. In his examination before the Official Assignee yesterday Elias Mitchell des Landes, a bankrupt, made the following sworn statement: —l have been about eight years in this colony, and for the last three years have lived in Auckland. I did not owe more than about £10 three years ago, but I was for some months unemployed before I obtained my present situation in the Customs. This, together with the cost of furnishing a homo for my wife and family, caused me to get into debt, and pressure of creditors induced me to seek assistance from money-lenders. Since then I have become more and more involved, as the high rates of interest took all my spare earnings, and finding the position was becoming hopeless I interviewed my creditors and explained it to them, and offered to divide among them £5 per month out of my salary. They all agreed to this, excepting two, who insisted on proceeding against me through the Court, and I was thus compelled to file. My salary averages from £10 8s to £10 16s per month, bub I am under suspension on account of my bankruptcy. I have 29 creditors, whose claims amount to about £188, and of these there are 18 who are creditors for loans, and whose claims, including interest, amount to £152 13s 6d. I have a cousin in a good position in China, and thinking he might assist me I drew on him for £50. He is not in any way indebted tome. lam confident that if he knew of my bankruptcy, he would not honor my draft, although otherwise he might have done so, to enable me toretain my situation. I have only about £10 worth of furniture. The only thing that I have any interest in, in addition to my earnings, is a small sum annually, about £6, which I receive from the ground rent of some property in Jersey. I have tried to raise money on the security of this interest, but have found it not negotiable. I understand that ib might be claimed, legally, by relatives who allow it to be sent to me. I have no other assets.